Corporate News: SYZYGY grows by 4 per cent in the first quarter and confirms forecast for 2018
- Sales up by 4 per cent to EUR 15.4 million
- Operating income increased by 10 per cent to EUR 1.1 million
- Net income EUR 0.9 million
- Outlook for 2018: double-digit sales growth
The SYZYGY Group started the 2018 financial year with sales growth of 4 per cent compared with the same period of the previous year. Sales increased to EUR 15.4 million.
Operating income (EBIT) rose by 10 per cent to EUR 1.1 million. The EBIT margin remained unchanged at 7 per cent compared with the previous year. Pre-tax income was EUR 1.3 million. Given a tax rate of 27 per cent, net income was EUR 0.9 million. This represents earnings per share of EUR 0.07 (previous year: EUR 0.09).
Liquid funds and securities totalled EUR 19.5 million at the balance sheet date, corresponding to cash holdings of EUR 1.45 per share.
|Q1 2018||Q1 2017||Change|
|Financial income (kEUR)||151||503||-70%|
|Pre-tax income for the period (kEUR)||1,255||1,507||-17%|
|Net income for the period (kEUR)||920||1,071||-14%|
|Earnings per share (EUR)||0.07||0.09||-25%|
The SYZYGY Group is confirming its forecast for 2018 and expects double-digit sales growth in the current financial year, with a rise in the EBIT margin in the upper single-digit range.
The full quarterly report as at March 31, 2018 will be available at http://ir.syzygy.net from May 9, 2018 (in English language).